While texture painting, is there a way to limit the maximum opacity of the paint simmilar to the weight setting in weight paint mode
The answer is that no, you cannot set a threshold that will limit the full opacity of overlapping strokes - these strokes from your example are additive, so the overlapping area appears more opaque than the parts that do not intersect. 

The better way to handle this is to use the Mask tool to paint your strokes using the visualization color of your choice and setting your strength to full with no pressure control, then inverting the mask and switching to the Fill tool and setting the strength to your desired transparency, and then you can get even fill across your whole mask.